Coping with Losses and Reassessing Expectations in High-Stakes Sports

Managing a team in good times is one skill set. But how do you motivate people when things aren't going well? Toto Wolff is the team principle and CEO of the Mercedes team, one of the most successful teams in the history of Formula One racing. But when the team’s eight-year winning streak unexpectedly ended, Wolff had to adjust his leadership style to get them back on track. He tells Harvard Business School professor Anita Elberse about the difference between directing and leading, and how to help a struggling team learn from mistakes and move forward.